According to officials, Paytm Payment Services Limited (PPSL) and ArunachalPradesh Innovation and Investment Park (APIIP) inked an MoU on Thursday to develop a startup environment for young people in the northeastern state.
According to the agreement, Paytm Incubation Centre will offer free credits through the Paytm Startup toolkit and will offer its product to early-stage firms at a subsidised rate in order to support young people’s entrepreneurial endeavours as they expand.
According to an official communiqué, this will encourage young entrepreneurs and support the state’s startup environment.
“We are happy to partner with the government of Arunachal Pradesh in its journey to create a vibrant startup ecosystem. At the Paytm Incubation Centre, we strive to catalyse the startup ecosystem in India and help young entrepreneurs gain new user acquisition, access funds and more facilities,” the spokesperson of Paytm Payment Services said.
“Our comprehensive platform helps businesses to expand their digital presence with quick integration of payment, brand and commerce solutions,” he added
Paytm is India’s payment app, which offers consumers and merchants payment services. It is a pioneer of mobile QR payments in the country.
In collaboration with financial institutions, it also makes a variety of financial services available to its customers and merchants, facilitating commerce for small business owners, according to the communiqué.
Paytm, a provider of payments and financial services, teamed up with SBI Card to introduce the Paytm SBI Card on the RuPay network last month.
